Scottish Budget brings forward £120m

20 September 2012Scotland’s Finance Secretary John Swinney has unveiled a Budget for 2013-14 focusing on economic growth through investment in infrastructure.

Swinney pledged to bring forward £120m of investment in housing and schools projects over the course of the Budget, and revealed plans to switch money from current spending to capital spending.

The Budget provides an additional £40m to be spent on affordable housing projects, starting this year, while a further £80m will be spent on the Scottish Schools for the Future programme through the non-profit distributing model.

That will see the number of schools being rebuilt or refurbished increase from 55 to 67, Swinney said.

He also praised the Scottish Futures Trust, which is administering the school building programme, for delivering “£371m in savings and benefits to Scottish taxpayers over the past three years”.

“We will provide an immediate stimulus to construction,” Swinney added.

The Scottish government will also establish its Renewable Energy Investment Fund to support the country’s burgeoning energy sector.For more on the Scottish government’s plans, hear from Deputy First Minister and Cabinet Secretary for Infrastructure, Investment and Cities, Nicola Sturgeon, at Partnerships Bulletin’s Financing Scottish Infrastructure event on 25 October. Click here for more information.